IDFC Public Issue of long term Infrastructure bonds to open on January 17, 2011

Infrastructure Development Finance Company Ltd has now announced with reference to the proposed public issue of long term infrastructure bonds of face value of Rs 5,000 each, in the nature of secured, redeemable, non-convertible debentures, having benefits under Section 80 CCF of the income Tax Act, 1961 (the "Bonds") for an aggregate amount not exceeding Rs 29289.64 million (the "issue") - Tranche 2.

The Committee of Directors, at its meeting held on January 04, 2011, had approved the Prospectus - Tranche 2 which includes terms and conditions for Tranche - 2.

The Issue will open for subscription from January 17, 2011 - February 4, 2010.

The stock closed the day at Rs.173.35, down by Rs.5.80 or 3.24%. The stock hit an intraday high of Rs.179.50 and low of Rs.172.55.

The total traded quantity was 5.66 lakhs compared to 2 week average of 4.22 lakhs.

Source : Equity Bulls

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